Home Finance State Priority On Spending

State Priority On Spending

Bhubaneswar: With the additional allocation of Rs 19,833 crore in the Supplementary Budget and nearing completion of the financial year 2021-22, the Department of Finance has fixed priority for spending by various Departments of the State Government.

Vishal Kumar Dev, Principal Secretary Finance, has held discussions with senior officials of the Department of Finance, while reviewing expenditure of various development departments.

While priority sectors are earmarked with more funds, in a recent circular, the Department of Finance has said priority should be given to expedite expenditure in respect of Central Share and State Share of Central Sponsored Scheme (CSS) where the Central Assistance is received.

The Departments asked to expedite expenditure on capital outlay for creation of capital assets, social sector, maintenance of capital assets, funds provided for completion of projects under zero based investment review and outlays provided for RIDF, EAP and other resource tied up schemes.

“The Administrative Departments are required to limit the expenditure under different CSS, commensurate with the availability of Central Share as per the allocation of funds made by Government of India and the corresponding State Share due as per the financing pattern of the scheme,” read the circular.

Expenditure against these schemes is to be made against availability of Central assistance and the corresponding State share only during 2021-22. Expenditure without availability of Central assistance would require prior concurrence of the Finance Department, it clarified.

In the Supplementary Budget provision has been made for recoupment of advance taken from Odisha Contingency Fund. It should be recouped by January 15, 2022 and compliance should be reported to the Finance Department by January 21, 2022.

As per the circular, the total allotment including Supplementary provision excluding the provision for recoupment of advance from Odisha Contingency Fund and the provision for accounting adjustment should be distributed among the Drawing & Disbursing Officers through treasury portal by 31 December, 2021.

In case of Supplementary linked re-appropriation or additional allotment should be distributed by 15 January, 2022. All Supplementary linked surrender and re-appropriation orders shall be issued centrally at the level of Department of Finance in Budget-II Branch and the same will be completed by 31 December, it said.

Setting deadlines for proper management funds, the Finance Department said the process of issuance of sanction orders for release of funds as well as surrender of provisions should be completed by January 2022 so as to avoid a rush of expenditure in the last month of the financial year.

In order to avoid last minute rush, the Departments were directed to submit bills to the Treasuries for the financial year 2021-22 before March 9, 2022 for claims under other contingencies, machinery, equipment, vehicle, share capital, subsidy & loans and by March 15 for other claims.

“Steps should be taken for full and effective utilization of supplementary provision as any unspent balance of supplementary provision would invite adverse comments from the Audit,” it further said. Budgetary funds, in no case, will be transferred to civil deposit, warned the Finance Department.

LEAVE A REPLY

Please enter your comment!
Please enter your name here